I don't like that pattern but I cannot ignore it either. On Daily we might be forming a Head and Shoulders pattern but the Right shoulder is definitely not ready yet, so, most likely price will consolidate there a bit longer.
In general, this pattern is extremely tricky to trade and the possibility that it fails in the end is fairly high. Hence, I would use extreme caution using it as a valid trading signal.
In general, this pattern is extremely tricky to trade and the possibility that it fails in the end is fairly high. Hence, I would use extreme caution using it as a valid trading signal.
